Multi-disciplined, cashflow-generating growth

Begbies Traynor has concluded FY25 with a very strong performance. 12% revenue growth in FY25, from its multi-disciplined suite of services, has led to 7% growth in Adj. PBT and £19.4m in FCF pre-acquisitions (above expectations). Moreover, the macro-economic environment is supportive, and the pipeline of potential acquisitions is encouraging. FY25 revenue growth of c.12% to £153m was c.1% above consensus expectations. An impressive c.11% organic growth in Business recovery and advisory services to c.£107m sales, reflects Begbies’ ability to advise on larger corporate restructurings as well as recruit senior professionals. Meanwhile Property advisory and transactional services grew revenues 15% (including 7% organically) to c.£46m, also...